Acquisition / mergerFiled on BSE ·
Elevate Campuses Limited subscribes to Class A OCRPS in Elevate UAE for ₹601 crore
What the filing says
- The Company subscribed to 59,061,905 Class A Optionally Convertible Redeemable Preference Shares of Elevate UAE at USD 1.05 each, totaling approx. ₹601 crore.
- Elevate UAE is a wholly owned subsidiary, incorporated in Singapore on August 23, 2024, with nil turnover for past three years.
- The investment will be used partly or fully for repayment/prepayment of borrowings by Souk HIS Holdings Limited, a step-down wholly owned subsidiary of Elevate UAE, with transaction closing by October 2026.
Original filing
Announcement under Regulation 30 (LODR)-Acquisition
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Summary written by Arthneeti from the company's filing with the stock exchange; check the original filing for full details. Arthneeti is a research and analytics platform, not a SEBI-registered investment adviser, and nothing here is a recommendation to buy or sell.